China Minsheng Drawin Technology Group Limited provided earnings guidance for the nine months ended December 31, 2015. The board of directors of the company announced that based on a preliminary assessment of the unaudited consolidated management accounts of the group and the information currently available to the board, the group is expected to record a substantial increase in the consolidated net loss attributable to the owners of the company which would amount to no less than HKD 180 million for the nine months ended December 31, 2015 as compared with the consolidated net loss attributable to the owners of the company recorded for the financial year ended March 31, 2015. The financial performance of the group moving to such substantially increased loss position for the nine months ended December 31, 2015 is mainly attributable to (i) the impairment losses of approximately HKD 90 million on the group's certain available-for-sale financial assets due to their significant declines in fair values (based on quoted market price) which are required to be recorded as other losses in the profit or loss section instead of as other comprehensive losses as reported in the interim financial statements for the six months ended September 30, 2015; (ii) the group's full provision for bad debt of the refund of earnest money in the amount of approximately HKD 72 million owed to the group by Mr. Liu Shu in relation to the proposed acquisition of properties in Shenzhen, after unsuccessful claim for such refund for an extended period of time despite the group had made effort to demand for the refund of such earnest money and was expecting that such monies would be refunded to the group on or before 31 December 2015 as mentioned in the company's interim report for the six months ended 30 September 2015; and (iii) a substantial increase in the administrative expenses due to the Group's active hiring of personnel to support the expansion of the group's businesses and operations in China.